
Chinese manufacturing business activity rebounded slightly in February but still stayed in contraction territory after falling to a 28-month low in January, official data showed on Sunday.
The manufacturing purchasing managers' index (PMI), a key measure of factory activity in China, posted at 49.9 in February, up from 49.8 in the previous month, according to the data released by the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing.
A reading above 50 indicates expansion, while a reading below 50 represents contraction.
The index of last month ended a losing streak lasting for four consecutive months since last October and showed China's manufacturing contraction has narrowed.
The marginal improvement was attributable to recent pro-growth policies, such as a reserve requirement ratio (RRR) cut and tax breaks, and steady global commodity prices, said Zhao Qinghe, a senior statistician of the NBS.
The sub-index of new order rose to 50.4 in February from 50.2 in a month earlier, while the sub-index for raw material inventories climbed from 47.3 to 48.2.
The PMI dropped below the 50-point mark in January, the first time since October 2012, marking looming downward pressure on the economy, according to South Korea's News Agency (Xinhua).
GMT 14:02 2018 Sunday ,02 December
RDIF says $2 billion will be invested in Russian economy from joint Russian-Saudi fundGMT 12:03 2018 Friday ,30 November
Canada on track to sign new free trade deal with US and MexicoGMT 07:56 2018 Wednesday ,21 November
Merkel policies in focus in final debate on draft German budgetGMT 14:11 2018 Thursday ,08 November
Greek minister, Russian ambassador discuss possible investment projectsGMT 13:42 2018 Wednesday ,07 November
PM says Russian-Chinese trade turnover may reach $200 blnGMT 11:15 2018 Wednesday ,07 November
Top U.S. diplomat visits Pakistan to discuss economic cooperationGMT 13:53 2018 Thursday ,01 November
Alrosa to sell 127 large gem-quality rough diamonds at an auction in IsraelGMT 10:59 2018 Tuesday ,30 October
Trade turnover between Russia and Japan grows by over 17% in 2018Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor